In a recently unveiled personal account, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, he selected the maverick academic Varoufakis as the finance minister primarily because of his worldwide fame along with his highly compelling abilities when it came to speaker.
“He was, in reality, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own motives that included promoting Varoufakis's publications and experimenting with his game theories using the nation rather than truly advocating the country's economic stability.
Tsipras noted that those negotiations to avoid bankruptcy became “not just a method to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously close to exiting the single currency area.
At stake was both Greece's destiny but also the severe austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, a move which threw Europe into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
He also wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
